OptimumBank revised its 2012 results to drop it below “well capitalized” status, but it has a plan to raise more capital so it can regain regulatory compliance.

Shareholders of OptimumBank Holdings will vote at its April 30 shareholder meeting on whether to allow its chairman to increase his investment in the company and whether to approve a reverse stock split.

Moishe Gubin, chairman of the Fort Lauderdale-based banking company (NASDAQ: OPHC), wants to buy 7.33 million shares at 30 cents each, which would inject $2.2 million into the company.

Its bank subsidiary originally reported a total risk-based capital ratio of 12.22 percent, as of Dec. 31. However, its shareholder proxy statement reveals this ratio was revised downward to 11.48 percent, which makes the bank "adequately capitalized." Regulators told OptimumBank in a previous enforcement action that this capital ratio must exceed 12 percent.

OptimumBank had a noncurrent loan ratio of 19.5 percent at the year's end.

The stock purchase by Gubin, if approved, would be enough to make the bank “well capitalized” and potentially give it room to grow.

Gubin’s investment would also require the approval of banking regulators. Gubin has been trying to get approval for such an increased investment in OptimumBank Holdings for over a year. Regulators previously approved his initial investment for a stake in the company.

When Gubin originally proposed the addition investment in OptimumBank Holdings in 2011, he offered to pay 40 cents per share, but the latest offer is at 30 cents per share. When addressing Gubin’s lower offer, the company noted that its book value per share declined to 22 cents, as of Dec. 31.

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